If you’re under 65 and have a personally owned individual (or family) health insurance policy (i.e., one not provided through an employer sponsored group plan), your insurer filed a Form 1095-A with IRS.

You should have received a copy in February.

(If not, call your insurer’s customer service center and request a duplicate. In many cases, they’re available on line.)

Obamacare originally included a “shared responsibility penalty” if you didn’t buy health insurance, thus proof of coverage was established vis a vis this form.

Subsequently, that penalty was ‘repealed’ and since you do not include Form 1095-A with your return, what’s going on here?

“Here’s the deal.” (Where have you heard that before?)

Consumers who had ‘Marketplace’ coverage at any point during 2023 will need the information on Form 1095-A to complete Form 8962, which reconciles the advance premium tax credit received with actual reported income, and is included with your return.

Guidelines and more information from HealthCare.gov HERE.

Disclaimer; considering who wrote this Tip, always consult a tax advisor. 

Next week; “How to retire early!”